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Technology Stocks : Gemstar Intl (GMST)
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To: 100cfm who wrote (1152)12/22/1999 10:23:00 PM
From: Poet  Read Replies (1) of 6516
 
100,

The options MM's are tough. I usually try to buy options with limit orders (often just below the ask like you did) unless I REALLY want that option now. Then I'll use a market order. Unfortunately, you're placing yourself at the mercy of the MM by doing this and may end up paying more, but at least you've got the option in your hand.

This is a great topic, definitely grist for the thread. Every options player has his or her own strategy and reason for using it. For instance, I'm more willing to put in a market order on a call that's a few months out than for one that's about to expire a few weeks out, when every penny counts.
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